Tuesday, October 20, 2020

Livestreaming platform Diuo will share revenues and equity | Music Ally

We wrote about livestreaming promotions firm Driift earlier this year (and again below) as a company spinning off from the management sector to work on online concerts. Now there’s another firm coming out of the live production world: Diuo.

Due to launch in October, it’s an offshoot from a company called We Are Sound, created as a platform for ticketed livestreams.

There’s some information on it in this Guardian piece written by Music Ally’s Eamonn Forde, explaining that 10% of revenue from tickets sold by Diuo will go into a pot managed by sister company The Dosoco Foundation, used for grants to artists, road crew, sound engineers and other people around the live music industry who are currently struggling.

Meanwhile, the first 100 artists to use Diuo will get a share of a 10% equity stake in the company that has been set aside for this purpose. “We’re putting our money where our mouth is,” founder Andrea Cockerton said.

Stuart Dredge

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